Many potential buyers are sitting on the sidelines wondering if now is the best time to buy a home. I hear from people in the community all the time that they are waiting to buy because they’re afraid of current interest rates. BUT what many people don’t realize is that the actual interest rate they will recieve is likely to be less than what is currently advertised. I have had many clients end up with an interest rate much less than what they had initially anticipated. ALWAYS check with your local lender to determine YOUR rate before making a decision.
I tell my clients to “Marry their home, and date their interest rate.” Essentially, commit to the home you love, but keep in mind that you can always refinance down the road if interest rates drop. If you are at a place in your life where you and your family are ready for a new place, then don’t let interest rates scare you away!
One last thing to keep in mind when considering buying a home in the current market is to realize that less buyers out there, means less buyer competition. Less competition makes your home-buying process less stressful.
To wrap up, don’t let interest rates scare you. Check with your local lender to figure out your individual rate (it may end up being much less than you thought). No one can predict the housing market. If you and your family are ready for the next adventure, then by all means, NOW is the time to get into your dream home.
Give us a call today if you’re ready to start your home-buying process!